Wells Fargo Celebrates 160 Years of Service

3/27/2012, 1:44 p.m.

To mark the anniversary, the company contributes more than $2.5 million to charities and donates, builds or renovates 160 homes

SAN FRANCISCO - Wells Fargo & Company marks a milestone anniversary of 160 years helping customers succeed financially and communities thrive with a series of donations and volunteer activities across the nation.

In celebration of 160 years of service, Wells Fargo is donating more than $2.5 million to more than 60 nonprofit organizations across the U.S. In some regions, eligible Wells Fargo customers helped determine how pools of $160,000 were divided among local non-profits by voting at Wells Fargo ATMs. In addition, Wells Fargo will donate, build or renovate 160 homes in the communities it serves over the course of 160 days.

"We've been working with our customers and communities to help them succeed financially since 1852," said Chairman and CEO John Stumpf. "Through the years, we've put our customers first, and we'll continue to do so as we look ahead to the next 160 years of service. Our celebration includes ways to honor our customers, communities and team members and says thank you for being with us over time."

The company also is organizing local volunteer activities for team members across the country in celebration of the anniversary. The activities address needs that are important to our team members, customers and communities including affordable housing, sustainable environments, hunger assistance, and education. Among the many volunteer opportunities, in some regions Wells Fargo team members collectively are volunteering 160 hours at local food banks, and in others they are visiting 160 classrooms to read to students and provide financial education lessons.

Wells Fargo team members also took part in a company-wide poll, which determined how the company would distribute $160,000 among three national non-profit organizations. As a result of the voting, Feeding America will receive $100,000, and Semper Fi Fund and Teach for America will each receive $30,000.

Founded as a banking and express company on March 18, 1852, in New York City, Wells Fargo opened its first western office on the waterfront of Gold Rush San Francisco on July 13, 1852, the site of the company's current headquarters. With the merger of Wachovia, Wells Fargo once again serves customers coast to coast.

"From East to West and back again, Wells Fargo has always strived to move our customers forward toward financial success by providing outstanding service," Stumpf said. "In the 1860's Henry Wells was asked what it takes to succeed in business. He said, 'There is one very powerful business rule. It is concentrated in the word courtesy.' Today we call it 'service.'"